The Government is preparing to launch a British ISA to entice new savers, but experts claim this account will lead.
Last week, Chancellor Jeremy Hunt announced the creation of the tax-free savings product during the Spring Budget.
Through the British ISA, savers will benefit from an extra £5,000 allowance annually for investments in UK equity.
This allowance is on top of the existing yearly allowance worth £20,000 which can be split across multiple ISA products.
According to the Treasury, the British ISA will bolster the country’s economy, offer rewards to investors and support the private sector.
However, experts are warning of the “challenges raised” by the launch of such a product due to having a smaller target market.
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The British ISA is set to be launched but could face “challenges” on the market
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Steve Cameron, the pensions director…
